Cottages of Hope, with the help of Weber State University, has produced two calculators that support our financial programs. The first calculator, “On Track“, helps the user to determine how much earned income is necessary to be considered a “Livable Wage”. Please give it a try, to see the amount of income your household would need to cover bills, entertainment, and some savings.
This calculator is based on the study done by Weber State University, the complete study is available here, The Ogden Independent Living Standard Official
The second calculator is used to calculate the amount of emergency savings needed to ensure that your household could withstand a temporary, financial set back. The “Emergency Savings Calculator” follows the advice of most financial professionals, suggesting that households have 3-6 month of living expenses saved for a rainy day. An explanation of how the calculator works is on the opening page. Please check it out, to see how much your household should have saved.